This is a brief post about the subject and there is a detailed article in the profile which you can find at #BinanceSquareTalks
Solayer and the LAYER Coin: Enhancing Performance on Solana
Solayer is a "Restaking" protocol that operates on the Solana network. It aims to significantly increase the network's speed using Hardware Acceleration and a technology called InfiniSVM.
This technology allows the network to process over a million transactions per second, making it ideal for high-frequency applications such as gaming and finance.
The LAYER coin is the native token of the project, and it has three main uses:
* Governance: Holders participate in decision-making.
* Rewards: Used to provide rewards to participants securing the network.
* Fees: Used to pay transaction fees within the Solayer network.
In short, Solayer represents a unique technical solution to enhance the performance of the Solana blockchain, while the LAYER coin works to build a sustainable and secure ecosystem for users.